Jasmine sells stake to RI firm

Jasmine sells stake to RI firm

BANGKOK (Dow Jones): Thailand's Jasmine International PCL said Monday its majority-owned unit Jasmine International Overseas Co. has sold a 11.40 percent stake in PT Asia Cellular Satellite Co. for $34.20 million to Indonesia's PT Pasifik Satelit Nusantara.

After the sale, Jasmine International Overseas will hold a 11.93 percent stake in PT Asia Cellular Satellite, a satellite cellular phone company.

Jasmine International is a communications company with interests in satellites, fiber optics, mobile-telephone and paging services as well as fixed-line telephone companies.